Melrose Industries (LON:MRO) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Melrose Industries PLC (LON:MRO) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 519.49 ($6.44) and traded as high as GBX 623.80 ($7.74). Melrose Industries shares last traded at GBX 619.58 ($7.69), with a volume of 3,850,484 shares.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 850 ($10.54) price objective on shares of Melrose Industries in a report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 640 ($7.94).

Melrose Industries Price Performance

The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86. The stock’s 50-day moving average is GBX 571.03 and its two-hundred day moving average is GBX 519.49. The stock has a market cap of £7.99 billion, a PE ratio of -20,652.60, a PEG ratio of 0.48 and a beta of 1.51.

Insider Transactions at Melrose Industries

In other news, insider David Lis sold 7,950 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.02), for a total transaction of £44,997 ($55,820.62). Company insiders own 1.00% of the company’s stock.

Melrose Industries Company Profile

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.